Martineau Johnson and Bircham Dyson Bell have both posted double digit increases for the year, bucking the downward trend afflicting other law firms.
Average profits per partner (PPP) at Birmingham’s Martineau, which also has an office in London, jumped by 26 per cent for the year to 30 April 2004.
The increase saw PPP reach £170,000 compared to £135,000 in the previous year while turnover also rose to £18.6m. Over the year, Martineau’s best performing groups were energy where revenue rose by 40 per cent and education which reported a 32 per cent increase in billings.
For London-based Bircham Dyson Bell, annual revenues rocketed, up by 21 per cent to £22.74m – double the firm’s turnover back in 1999.
Bircham Dyson Bell’s managing partner Michael Wood, who has presided over much of the period of sustained growth, was recently re-elected for a second two-year term. The firm now houses 43 partners and more than 250 staff.
The firms’ results contrast with their larger City contemporaries, many of which have reported falling profits on marginal turnover gains for 2003-04.